When the ranchers of Bearcat are plagued by rustlers, Big Jim Grady offers to buy their herds from them at low-ball prices. Steve Haley suggests to the ranchers that they band together and drive their herds to Abilene, Kansas and get full price. Steve's friend Smiley "joins" the rustlers to learn who their leader is. Grady henchman Doc Walker asks Steve to help break up the cattle drive, and he agrees in order to keep tabs on the rustlers. The gang makes several attempts to take the trail herd but Steve, in his guise as the Durango Kid, intervenes and saves the cattle.

Cimarron has found a lost treasure and the outlaw gang knows about it. They have made him a prisoner and are trying to get the location from him. However, he has sent for his friend Steve Reynolds and the Durango Kid will soon be on the job.